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Can you please help walk me through the calculations for the following questions related to the attached graph (jpeg)? Thanks! 5.The below table shows income

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Can you please help walk me through the calculations for the following questions related to the attached graph (jpeg)? Thanks!

5.The below table shows income growth and spending growth in 8 different product categories in 5 countries over the 2000-14.If nothing except income (i.e., not prices, consumer tastes, wealth, etc.) had changed for the population in each of the below countries over this period, what do these figures imply is the population's income elasticity of demand for the following items?

__1.29__ Telecom equipment by the Chinese population

__0.69__ Telecom equipment by the Japanese population

__3.23__ Pharma and med goods by the Japanese population

__0.23__ Pharma and med goods by the Indian population

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Consumer Spending Growth in Five Countries 2000-14 USA Japan Korea India China Pct. Change in Income 28 13 73 162 270 Pct. Change in Consumer Spending 27 2 42 102 262 Insurance 15 84 86 674 934 Financial Services 13 -19 24 608 648 Hotel Accommodation 48 -5 79 237 605 Jewelry 29 -20 72 119 449 Personal Care 30 16 28 161 359 Telecom Equipment 125 9 -37 127 347 Package Holidays 14 -37 135 119 233 Pharma and Med. Goods 87 42 62 38 219

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